IMMO CEBEL
ActiveSummary
IMMO CEBEL has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €3.0m and a net result of €25,135. Equity remains stable across the filed fiscal years (±0.5% per year). Its solvency ranks better than 84% of 9730 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability52▼-8
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €220,000 at 30 days acceptable
Liquidity ample (current ratio 7.51 against 3.82 in 2023; short-term debt: 9.5% and cash: 0.1% of total assets), and 21.3% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
78.7%
Return on assets
0.7%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
61 d late
2023
118 d late
2022
79 d late
2021
77 d late
2020
1 d early
2019
91 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 71 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
In the rankings
#8 company by equity in Schaarbeek, Real estate sector
Equity
€3.0m▲ 0.6%
2023 · €3.0m
Total assets
€3.8m▼ 2.2%
2023 · €3.9m
Net result
€25,135
2023 · -€9,610
Working capital
€2.4m▲ 19.1%
2023 · €2.0m
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€140,377▼ 52.4%€69,233▼ 50.7%€62,377▼ 9.9%€29,407▼ 52.9%€47,941▲ 63.0%
Net result€87,914within the sector's middle half▼ 34.8%€24,858within the sector's middle half▼ 71.7%€25,179within the sector's middle half▲ 1.3%-€9,610within the sector's middle half€25,135within the sector's middle half
Equity€3.1mabove the sector's middle half▲ 3.0%€3.1mabove the sector's middle half▲ 0.8%€3.0mabove the sector's middle half▼ 2.3%€3.0mabove the sector's middle half▼ 0.3%€3.0mabove the sector's middle half▲ 0.6%
Total assets€5.1mabove the sector's middle half▲ 4.1%€5.1mabove the sector's middle half▼ 1.3%€5.8mabove the sector's middle half▲ 14.7%€3.9mwithin the sector's middle half▼ 32.5%€3.8mwithin the sector's middle half▼ 2.2%
Debt€1.9m▲ 7.1%€1.8m▼ 3.9%€2.7m▲ 45.0%€815,075▼ 69.5%€726,636▼ 10.9%
Working capital€2.1mabove the sector's middle half▲ 7.3%€2.0mabove the sector's middle half▼ 4.5%€1.9mabove the sector's middle half▼ 4.7%€2.0mabove the sector's middle half▲ 5.1%€2.4mabove the sector's middle half▲ 19.1%
Solvency59.6%within the sector's middle half▼ 0.6pp60.9%within the sector's middle half▲ 1.3pp51.8%within the sector's middle half▼ 9.0pp76.6%above the sector's middle half▲ 24.7pp78.7%above the sector's middle half▲ 2.2pp
Current ratio2.55within the sector's middle half▼ 0.112.23within the sector's middle half▼ 0.321.74within the sector's middle half▼ 0.493.82above the sector's middle half▲ 2.087.51above the sector's middle half▲ 3.69
Return on assets (ROA)1.7%within the sector's middle half▼ 1.0pp0.5%within the sector's middle half▼ 1.2pp0.4%within the sector's middle half▼ 0.1pp-0.2%within the sector's middle half▼ 0.7pp0.7%within the sector's middle half▲ 0.9pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 63% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €3.8m
Fixed assets
€1.1m ▼ 10.1%
Current assets
€2.7m ▲ 1.4%
Equity and liabilities €3.8m
Equity
€3.0m ▲ 0.6%
Provisions
€87,212 ▼ 14.5%
Debt
€726,636 ▼ 10.9%
Debt's share of the balance-sheet total falls from 20.8% to 19.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€179,365▼
2023 · €204,747
Cash flow
€156,559▼
2023 · €165,730
Quick ratio
1.31▲
2023 · 0.75
Debt to equity
0.24▼
2023 · 0.27
ROE
0.8%▲
2023 · -0.3%
Interest coverage
3.86▼
2023 · 4.99
Debt ≤ 1 year
€363,516▼
2023 · €704,273
Debt > 1 year
€332,130▲
2023 · €76,113
Income taxes
€13,806▲
2023 · €13,602
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,732 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 14,732 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €133,475 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €177,496 | €145,711 | €171,242 | €175,340 | €131,424 | ▼ 25.0% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | -€925 | -€988 | - | - | - |
| Other operating charges640/8 | - | €25,476 | €31,499 | €30,795 | €32,099 | ▲ 4.2% |
| Gross operating margin9900 | €353,219 | €239,495 | €264,129 | €235,542 | €211,464 | ▼ 10.2% |
| Operating profit (loss)9901 | €140,377 | €69,233 | €62,377 | €29,407 | €47,941 | ▲ 63.0% |
| Financial income75/76B | - | €4,838 | €12,377 | €788 | €22,701 | ▲ 2,780% |
| Recurring financial income75 | €830 | €4,838 | €12,377 | €788 | €22,701 | ▲ 2,780% |
| Financial charges65/66B | - | €40,119 | €32,155 | €41,012 | €46,509 | ▲ 13.4% |
| Recurring financial charges65 | €40,208 | €40,119 | €32,155 | €41,012 | €46,509 | ▲ 13.4% |
| Profit (loss) for the period before taxes9903 | €101,000 | €33,953 | €42,599 | -€10,817 | €24,132 | ▲ 323% |
| Transfer from deferred taxes780 | - | €14,809 | €14,809 | €14,809 | €14,809 | = |
| Income taxes67/77 | €27,894 | €23,904 | €32,229 | €13,602 | €13,806 | ▲ 1.5% |
| Profit (loss) for the period9904 | €87,914 | €24,858 | €25,179 | -€9,610 | €25,135 | ▲ 362% |
| Transfer from tax-exempt reserves789 | - | €28,760 | €28,760 | €28,760 | €28,760 | = |
| Profit (loss) for the period to be appropriated9905 | €116,675 | €53,618 | €53,939 | €19,150 | €53,895 | ▲ 181% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.1m | €5.1m | €5.8m | €3.9m | €3.8m | ▼ 2.2% |
| Fixed assets21/28 | €1.7m | €1.5m | €1.3m | €1.2m | €1.1m | ▼ 10.1% |
| Tangible fixed assets22/27 | €1.3m | €1.1m | €937,039 | €782,833 | €659,159 | ▼ 15.8% |
| Land and buildings22 | - | €989,531 | €888,281 | €762,168 | €649,006 | ▼ 14.8% |
| Plant, machinery and equipment23 | - | €11,631 | €16,326 | €7,762 | €7,735 | ▼ 0.4% |
| Furniture and vehicles24 | - | €54,137 | €32,432 | €12,904 | €2,419 | ▼ 81.3% |
| Financial fixed assets28 | €405,000 | €405,000 | €405,000 | €439,000 | €439,000 | = |
| Current assets29/58 | €3.4m | €3.6m | €4.5m | €2.7m | €2.7m | ▲ 1.4% |
| Stocks and contracts in progress3 | €3.0m | €2.8m | €3.9m | €2.2m | €2.3m | ▲ 4.0% |
| Stocks30/36 | - | €2.8m | €3.9m | €2.2m | €2.3m | ▲ 4.0% |
| Amounts receivable within one year40/41 | €34,658 | €114,299 | €65,215 | €195,008 | €361,146 | ▲ 85.2% |
| Trade receivables40 | - | €1,112 | €2,467 | €3,370 | €1,369 | ▼ 59.4% |
| Other amounts receivable41 | - | €113,187 | €62,748 | €191,639 | €359,777 | ▲ 87.7% |
| Current investments50/53 | €202,746 | €162,383 | €79,178 | €79,178 | €79,178 | = |
| Cash at bank and in hand54/58 | €172,646 | €518,878 | €365,410 | €243,523 | €5,355 | ▼ 97.8% |
| Deferred charges and accrued income490/1 | - | €3,333 | €5,887 | €7,777 | €29,920 | ▲ 285% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.1m | €5.1m | €5.8m | €3.9m | €3.8m | ▼ 2.2% |
| Equity10/15 | €3.1m | €3.1m | €3.0m | €3.0m | €3.0m | ▲ 0.6% |
| Contributions10/11 | €940,000 | €940,000 | €940,000 | €940,000 | €940,000 | = |
| Reserves13 | €2.1m | €2.1m | €2.0m | €2.0m | €2.0m | ▲ 0.9% |
| Non-distributable reserves130/1 | - | €96,989 | €96,989 | €96,989 | €96,989 | = |
| Reserves not available under the articles1311 | - | €96,989 | €96,989 | €96,989 | €96,989 | = |
| Tax-exempt reserves132 | - | €230,234 | €201,474 | €172,714 | €143,954 | ▼ 16.7% |
| Distributable reserves133 | - | €1.8m | €1.7m | €1.8m | €1.8m | ▲ 2.6% |
| Profit (loss) carried forward14 | €32,553 | €32,553 | €32,553 | €32,553 | €32,553 | = |
| Provisions and deferred taxes16 | €148,362 | €132,627 | €116,830 | €102,021 | €87,212 | ▼ 14.5% |
| Provisions for liabilities and charges160/5 | - | €14,075 | €13,087 | €13,087 | €13,087 | = |
| Other liabilities and charges164/5 | - | €14,075 | €13,087 | €13,087 | €13,087 | = |
| Deferred taxes168 | - | €118,552 | €103,743 | €88,934 | €74,125 | ▼ 16.7% |
| Amounts payable17/49 | €1.9m | €1.8m | €2.7m | €815,075 | €726,636 | ▼ 10.9% |
| Amounts payable after more than one year17 | €270,380 | €173,334 | €86,667 | €76,113 | €332,130 | ▲ 336% |
| Financial debts170/4 | - | €173,334 | €86,667 | €76,113 | €332,130 | ▲ 336% |
| Amounts payable within one year42/48 | €1.3m | €1.6m | €2.6m | €704,273 | €363,516 | ▼ 48.4% |
| Current portion of amounts payable after more than one year42 | - | €86,667 | €86,667 | €86,667 | - | - |
| Financial debts43 | - | €631,542 | €280,500 | €246,000 | €10,000 | ▼ 95.9% |
| Credit institutions430/8 | - | €631,542 | €280,500 | €246,000 | €10,000 | ▼ 95.9% |
| Trade debts44 | €12,422 | €8,496 | €5,067 | €18,077 | €3,906 | ▼ 78.4% |
| Suppliers440/4 | - | €8,496 | €5,067 | €18,077 | €3,906 | ▼ 78.4% |
| Taxes, remuneration and social security45 | - | €212,715 | €45,745 | €18,113 | €33,002 | ▲ 82.2% |
| Taxes450/3 | - | €212,715 | €45,745 | €18,113 | €33,002 | ▲ 82.2% |
| Other amounts payable47/48 | - | €671,222 | €2.1m | €335,418 | €316,608 | ▼ 5.6% |
| Accrued charges and deferred income492/3 | - | €61,803 | €23,720 | €34,688 | €30,989 | ▼ 10.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €87,914 | €24,858 | €25,179 | -€9,610 | €25,135 | ▲ 362% |
| + Depreciation and write-downs630 | €177,496 | €145,711 | €171,242 | €175,340 | €131,424 | ▼ 25.0% |
| Operating cash flow (approximation) | €265,411 | €170,568 | €196,421 | €165,730 | €156,559 | ▼ 5.5% |
| Investment in fixed assets (approximation) | - | €100,740 | -€52,982 | -€55,135 | -€7,750 | ▲ 85.9% |
| Change in cash | - | €346,232 | -€153,468 | -€121,887 | -€238,168 | ▼ 95.4% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 61 days late
2024
31-12
Financial
Back to profitnet €25,135
Net result €25,135 after one loss-making year.
26-11
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 118 days late
2023
31-12
Financial
Weakest financial yearnet -€9,610
Net result drops to -€9,610, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity doublescurrent ratio 3.82
Current ratio from 1.74 to 3.82; short-term debt falls from €2.6m to €704,273.
18-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 79 days late
2022
16-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 77 days late
2021
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 91 days late
2019
31-12
Financial
Highest result since 2018net €134,908 ▲59%
Operating result €294,943, net result €134,908, both a record.
26-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
23-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
28-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
29-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
7 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Schaarbeek · 1 establishment unit since 1993
Ground area
227 m²
Building footprint
117 m²
Volume, LiDAR
1,335 m³
Parcel 21902A0424/00V000, Brussels · tallest building 17.9 m, ±5 floors. Linked by address, not a title deed.
15
companies at this address
See who is registered here
1 establishment unit
Eugène Demolderlaan 89, 1030 Schaarbeek
since 19932.061.156.166
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21902A0424/00V000 | Brussels | 227 m² | 1 · 117 m² | 17.9 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
2 holdingsOwners 0
The accounts to 31-12-2024 list no shareholders, and no other source names one.
Holdings 2
-
100%
-
23.82%
According to the 2024 annual accounts of IMMO CEBEL and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Legal Entity Identifier
699400LI5DWR3F2Z0239
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Of 9,144 companies in sector 68201 we hold annual accounts for 6,775. 3,832 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded01-03-1993
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
82990Other business support services
68121Development of residential building projects
46630Wholesale trade
81100Combined facilities support activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0449391397
Also
9925:BE0449391397
Registered
15-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.